Highlights
Before the European and US markets open, the Reserve Bank of India is expected to announce its monetary policy decision at 10 a.m. in Mumbai Thursday (12:30 a.m. EDT/0430 GMT). The RBI is expected to hold rates steady for a third meeting in a row as inflation has cooled to 4.81 percent. The bank's Monetary Policy Committee decided unanimously to leave its policy rate unchanged at 6.50 percent at its April and June meetings, following a 25-poitn hike in February, a 35-point rise in December and 50-point increases at the previous three meetings.
RBI officials are monitoring the effects of their past tightening and will take further monetary actions promptly and appropriately as required to keep inflation expectations firmly anchored and to bring down inflation to the target (the 4 percent midpoint of the 2 to 6 percent range).
In Italy, no revisions are expected to the provisional CPI data for July, which posted a 0.1 percent rise on the month and a 6.0 percent gain on the year.
The US CPI data is forecast to show core consumer prices (excluding food and energy) held steady in July at a modest monthly increase of 0.2 percent, which would match the June figure. Overall prices are also expected to rise 0.2 percent after rising at the same pace in the previous month. Annual rates, which in June were 3.0 percent overall and 4.8 percent for the core, are expected at 3.3 and 4.8 percent, respectively.
New jobless claims for the August 5 week are expected to come in at 230,000 versus 227,000 in the prior week, which was 6,000 higher than expected.
RBI officials are monitoring the effects of their past tightening and will take further monetary actions promptly and appropriately as required to keep inflation expectations firmly anchored and to bring down inflation to the target (the 4 percent midpoint of the 2 to 6 percent range).
In Italy, no revisions are expected to the provisional CPI data for July, which posted a 0.1 percent rise on the month and a 6.0 percent gain on the year.
The US CPI data is forecast to show core consumer prices (excluding food and energy) held steady in July at a modest monthly increase of 0.2 percent, which would match the June figure. Overall prices are also expected to rise 0.2 percent after rising at the same pace in the previous month. Annual rates, which in June were 3.0 percent overall and 4.8 percent for the core, are expected at 3.3 and 4.8 percent, respectively.
New jobless claims for the August 5 week are expected to come in at 230,000 versus 227,000 in the prior week, which was 6,000 higher than expected.
Definition
Market Focus details key factors in the coming day that will impact the economic outlook and the financial markets. These include central bank events, economic indicators, policymaker speeches as well as expected political and corporate developments.
Description
Keeping up-to-date with event schedules and the economic calendar is key to understanding the global financial system. Econoday's Market Focus allows investors and policymakers to carefully track what will be making news and moving the financial markets in the coming day.
